U.S. Department of Commerce Signs Letters of Intent for $2 Billion in Quantum Computing Incentives Under CHIPS Act
5d ago· 4 min readenNews
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Summary
The Department of Commerce announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act. These funds will support two domestic quantum foundry companies and seven quantum computing companies to accelerate the development of utility-scale, fault-tolerant quantum computers, strengthening U.S. leadership in quantum technology.
Key quotes
· 3 pulledThe Department of Commerce today announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act.
These funds will support a portfolio of quantum companies, including two domestic quantum foundry companies and 7 quantum computing companies to accelerate solving the most critical technology challenges in the race to develop utility scale, fault-tolerant quantum computers.
The Department of Commerce's quantum incentives are designed to strengthen America's position in this critical frontier technology.
The Department of Commerce today announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act.
